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May's theorem famously shows that, in social decisions between two options, simple majority rule uniquely satisfies four appealing conditions. Although this result is often cited as a general argument for majority rule, it has never been extended beyond pairwise decisions. Here we generalize...
Persistent link: https://www.econbiz.de/10005556913
In response to recent work on the aggregation of individual judgements on logically connected propositions into collective judgements, it is often asked whether judgement aggregation is a special case of Arrowian preference aggregation. We argue the opposite. After proving a general...
Persistent link: https://www.econbiz.de/10005556970
Within social choice theory, the new field of judgment aggregation aims at reaching collective judgments on a set of logically interconnected propositions. I investigate decision problems, in which the agenda is a network, composed of atomic propositions and connection rules between them....
Persistent link: https://www.econbiz.de/10005556978
All existing impossibility theorems on judgment aggregation over logically connected propositions have one of two restrictions: they either use a controversial systematicity condition or apply only to special agendas of propositions with rich logical connections. An important open question is...
Persistent link: https://www.econbiz.de/10005408407
It is known that majority voting among several individuals on logically interconnected propositions may generate irrational collective judgments. We generalize majority voting by considering quota rules, which accept each proposition if and only if the number of individuals accepting it exceeds...
Persistent link: https://www.econbiz.de/10005408431
If each member of a group assigns a certain probability to a hypothesis, what probability should the collective as a whole assign? More generally, how should individual probability functions be merged into a single collective one? I investigate this question in case that the individual...
Persistent link: https://www.econbiz.de/10005412461
In the emerging literature on judgment (as opposed to preference) aggregation, expert rights or liberal rights have not been investigated yet. When a group forms collective beliefs, it may assign experts with special knowledge on certain propositions the right to determine the collective...
Persistent link: https://www.econbiz.de/10005560998
In the theory of judgment aggregation on connected propositions, an important question remains open: Which aggregation rules are manipulable and which are strategy-proof? We define manipulability and strategy- proofness in judgment aggregation, characterize all strategy-proof aggregation rules,...
Persistent link: https://www.econbiz.de/10005561002
Arrow’s Impossibility Theorem shows that transitive social preference is impossible. This note shows that in the general case of exchange, social preference need not be transitive. Indeed, it shows that social preference must be non-transitive to allow gainful exchange to maximize social...
Persistent link: https://www.econbiz.de/10005135127
We study option management by committee. Analysis is illustrated by tenure decisions. Our innovations are two-fold: we treat the committee's problem as one of social choice, not of information aggregation; and we endogenise the outside option: rejecting a candidate at either the probationary or...
Persistent link: https://www.econbiz.de/10005118661